LONDON, UNITED KINGDOM -- (Marketwire) -- 02/11/13 -- Putting personal finance classes on the curriculum could save the UK taxpayer approximately GBP 3.4 billion a year, according to household finance specialists Money Dashboard. A recent article published on the popular Money Saving Expert website demonstrates that ignorance of personal finance matters such as debt, retirement savings, unemployment, and mis-selling of financial products is causing a significant drain on the public purse.

Just over a year ago, an e-petition with more than 118,000 signatures calling for the introduction of personal finance literacy classes to the national curriculum was submitted to parliament, prompting a debate in the House of Commons. Yet, one year on, there are no plans to implement such a scheme. This means that it is up to individuals to educate themselves about these matters and ensure that they are prepared for any financial headwinds that might be coming their way.

Many UK citizens live a financially insecure life, living from paycheck to paycheck and running up debts that leave them thoroughly exposed in the event of a sudden drop in income. There are, however, plenty of things that they could be doing to make themselves more financially secure.

The most important step is to get the household finances in order. Setting out a household budget and sticking to it is key.

This can be done with simple tools such as a pen, paper, and calculator, but the whole process can be streamlined very effectively by using Money Dashboard's free budget planner tool. This enables you to keep all your accounts in one place, and make use of a variety of tools such as charts and graphs to get a clearer picture of where your money is going. This makes it easy to identify potential problem areas and develop a strategy for a more secure financial future. Once you have your house in order, you can pay off all your unsecured debts and start building up savings for emergencies, future expenses such as a mortgage deposit or your children's education, and retirement.

According to the Money Saving Expert website, Britons waste approximately GBP 1.2 billion a year on financial products that turn out to be poor value. This is why it is essential to learn about how these products work, so that you can make more informed decisions about which ones to use, and how best to use them.